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XacBank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

XacBank serves Mongolia's salaried workers with a fixed-rate salary loan and fixed-term deposits, not the UK and European everyday money market. A taxpayer card is enough to apply, and borrowing runs at 19.56% to 23.87% on amounts of MNT 300,000 to MNT 100,000,000 over a term of 30.

Key facts

Best for
Salaried earners in Mongolia who want a fixed-rate loan or a fixed-term deposit
APR
19.56% to 23.87%↗
Loan amount
MNT 300,000 to MNT 100,000,000↗
Term
30 months↗
Arrangement fee
Service fee 0.5% via digital bank, 1% at branch↗
Credit check
Hard↗
Rate type
Fixed↗
Lender type
Direct lender↗
Eligibility
Salary earners; having a taxpayer card (НДШ) is enough even if salary is not paid through XacBank; collateral required above 30 million MNT↗
Origination fee (%)
0.5% to 1%↗
Loan types
Personal↗
Legal entity
Khas Bank JSC (ХасБанк ХК)↗
Headquarters
Mongolia↗
Founded
2001↗
Support channels
Phone, Email, Help-centre↗
Pricing model
Fixed rate
Features
Credit line
Official website
xacbank.mn

Savings

Headline rate
9.38% to 12.68%↗
Minimum deposit
MNT 20,000↗
Access terms
Term deposit of 3-24 months; early termination before contract end costs 3,000 MNT; deposits at any time; interest may be credited to a linked current account via standing order↗
Monthly fee
MNT 0↗
Account kind
Fixed↗

Debit cards

Card type
Debit↗
Card network
Visa↗
Audience
Kids

Mortgages

Initial rate
19.2%↗
Fixed period
20 years↗
Purpose
Purchase, First-time-buyer, Home-equity↗

Facts checked September 26, 2026, 10 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • The salary loan pays out MNT 300,000 to MNT 100,000,000 at a fixed 19.56% to 23.87% over 30 for salary earners in Mongolia
  • A taxpayer card is enough to qualify, even when your salary is not paid through XacBank
  • The service fee is 0.5% to 1%, and the digital bank route is cheaper than the branch
  • Term deposits pay 9.38% to 12.68% with a monthly fee of MNT 0 and a minimum deposit of MNT 20,000

Cons

  • A hard credit check is required, which is the norm for 75% of the lenders here
  • Collateral is required on loan amounts above a threshold set by the bank
  • The loan APR of 19.56% to 23.87% sits above the 15.5% typical of the lenders listed here
XacBank

Ready to try XacBank?

Scored 9.2 / 10 by SumCue.

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Who it suits

  • Salaried workers in Mongolia who already hold a taxpayer card and want a revolving line
  • Borrowers who prefer a fixed rate and a known repayment figure each month
  • Savers who can leave money on deposit for the full agreed term without a fee

Who should look elsewhere

  • Cashspace users, whose APR runs to PHP 12 to PHP 36, well above the 19.56% to 23.87% on this loan
  • European borrowers, since Creduma ES lends from from €12,000 in euros rather than tugriks
  • Anyone after the cheapest credit on this list: Sofkredit charges 10.74% to 18.06%, far below the 19.56% to 23.87% here

The company behind it

XacBank trades as Khas Bank JSC, Khas Bank JSC (ХасБанк ХК), and is headquartered in Mongolia, MN. It has been lending to Mongolian customers and taking deposits since 2001, so it is an established domestic bank rather than a newcomer to the market. Help runs on phone, email and help centre, so you can reach the bank by phone, by email or through its help centre.

How XacBank compares

Where XacBank is available

Available
Mongolia

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the XacBank salary loan cost?+

The salary loan runs at 19.56% to 23.87% on a fixed rate, with amounts of MNT 300,000 to MNT 100,000,000 and a term of 30. The service fee is 0.5% to 1%, and it is the lower end of that range when you apply through the digital bank rather than a branch.

Who can apply for the salary loan?+

It is aimed at salary earners in Mongolia. A taxpayer card is enough to qualify, even if your salary is not paid through XacBank. It can also act as a revolving facility, since a credit line is listed among its features.

Will applying affect my credit file?+

A hard credit check is required, so an application can leave a mark on your file, and approval is not guaranteed. That is typical practice here, since 75% of the lenders in the wider market also run a hard check.

Is collateral needed?+

Collateral is required once the amount goes above a threshold set out in the bank's terms, which covers the upper part of the MNT 300,000 to MNT 100,000,000 range. Salary loans inside that range carry no such condition, so check the amount with the bank before you apply.

What does a term deposit at XacBank pay?+

A term deposit pays a fixed headline rate of 9.38% to 12.68% and needs a minimum deposit of MNT 20,000. You can fund it at any time and have the interest credited to a linked current account by standing order.

Can I take money out of a term deposit early?+

A term deposit runs for an agreed term, and ending it before the contract end costs a fee from your balance. You can fund the account at any time, and interest on a deposit at 9.38% to 12.68% can be credited to a linked current account by standing order.

Are there any account fees?+

The monthly fee on the term deposit is MNT 0, so there is no recurring charge for holding the deposit. On the loan side, the only fee stated is the service fee of 0.5% to 1%.

How do I get in touch with the bank?+

Support runs on phone, email and help centre, which covers phone, email and a help centre. That mix suits people who would rather sort a question by email or read an answer in the help centre than hold a phone conversation.

Sources

Compiled from 10 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Funding time, Representative example.

XacBank

XacBank

Salaried earners in Mongolia who want a fixed-rate loan or a fixed-term deposit

9.2/10See alternatives